The Global Climate Registry aims to solve the transparency gap in carbon credit management, on top of verifying and allowing carbon credit trading
Asia has its first digital native carbon registry, the Global Climate Registry (GCR), thanks to a new partnership between APAC climate-tech and carbon reduction solutions provider, Carbonbase, financial backing organisation, The Hbar Foundation and venture capitalist, ImpactX.
Developed on the Hedera Hashgraph, a decentralised network that’s been described as an alternative to the blockchain, GCR aims to offer small and medium-sized businesses a cost-effective, transparent and accessible solution to reduce their carbon footprint. Project developers, auditors and buyers will be able to register, verify and purchase high-integrity, data-driven carbon credits via the platform. The platform will also offer enhanced information and data reporting functionality.
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“We are excited to collaborate with the Hbar Foundation as well as ImpactX,” said Max Song, Gen.T honouree and CEO and founder of Carbonbase.
“Our previous work in supporting climate solutions’ adoption in APAC naturally drove us to find new ways to inspire and aid climate action. By leveraging the robust partnerships of the Hedera network and ImpactX’s visionary product approach for global NGOs, we aim to co-create a next-gen carbon market infrastructure. GCR will catalyse the acceleration of digitising the measurement, reporting and verification process in the carbon credit market. This innovation will boost transparency and credit integrity, and significantly drive market growth, eventually propelling global carbon reduction efforts.”
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